The Agreement to Cancel Lease should be used when a Landlord and Tenant have mutually agreed to alter the ending date of the lease agreement from its original terms. This Agreement is only suitable for a voluntary termination of a lease term. Both the Landlord and the Tenant need to sign the Agreement for it to be legally effective. This Agreement is not designed for use if one party is looking to unilaterally end the rental relationship (for example, a landlord is trying to evict a tenant for non-payment of rent). There may be several reasons that the parties wish to alter the length of a lease. Often, a Landlord sells the property to another party who does not wish to have the property occupied by a Tenant. If the parties can agree to an earlier termination to the lease, this document can be used to identify an earlier termination date. Sometimes a Tenant may want to get out of a lease agreement (wants to move, needs a bigger apartment, etc.). If the Landlord is willing to let the Tenant break the lease, this Agreement may be used to clearly show when the lease will end. This Agreement can be used for both commercial and residential leases. It should be signed by both parties and if there are multiple Landlords or Tenants, all should join in signing. It is not necessary that the signatures be witnessed or notarized. |